PPI claim help(Settlement figure)

goodey200

Hi, After following Martins tips on reclaiming ppi using the relevant forms to my lender i had a almost instant response via letter back to me.

Now what loan i was claiming on was one that ended after 48 months. charged around £4.99 variable ppi charges and i was also claiming for a account thats been running since 2008..

now they got back to me and said they were "investigating the the sale of the PPI on the above accounts."

"In the circumstances i am prepared to offer a full refund of the premiums paid plus interest charged on these premiums (£269.65) in full and final settlement of this claim."

"If you wish to accept this offer then i would ask you to write to advise acceptance of the offer which remains open for 14 days from the date of this letter."


Can i not accept this and ask for more as i dont think it adds up over two accounts consisting of over 60+ ppi payments... or do i have to accept this offer and is correct?

Many Thanks

Matt

goodey200

any help plz :P

J_i_m

You can question the calculation method if so wish. But it looks like they've delt with your complaint fairly.

You need to check how much you've paid towards the PPI.

amersall

What was the term of these loans, did you settle early on either one and what was the ppi total amount with interest?.

goodey200

amersall wrote: »

What was the term of these loans, did you settle early on either one and what was the ppi total amount with interest?.

thats what i dont understand in what the letter meant... its almost like they worded it as that figure was the total interest... i will have to ring them monday.

and no i havent settled them early.. the one claim was over 4 yrs and i paid every month.. and the other is still ongoing and so far paid 30 months off....

amersall

You need to see if the offer is for both loans or just one, it looks to me like it is for one, ask them what the ppi is they are paying you back on the first one that is cleared, then you will have a better idea of what they are doing.

The loan that is still running will have to be reset and the whole ppi amount taken off the balance of the loan and the monthly payment goes down by the ppi amount, you get the ppi you have paid for 30 months back and 8%.